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Bank of England sees no clear evidence of sharp Brexit slowdown

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The Bank of England said on Wednesday it saw "no clear evidence" that a sharp slowdown was underway in Britain's economy after the June 23 vote to leave the European Union, though around a third of firms it spoke to plan to curb hiring and investment.

[LONDON] The Bank of England said on Wednesday it saw "no clear evidence" that a sharp slowdown was underway in Britain's economy after the June 23 vote to leave the European Union, though around a third of firms it spoke to plan to curb hiring and investment.

The central bank's regional agents - who are based at BoE offices around Britain - said business uncertainty "had risen markedly" but there was little evidence that consumers were spending less either.

"A majority of firms spoken with did not expect a near-term impact from the result on their investment or staff hiring plans. But around a third of contacts thought there would be some negative impact on those plans over the next 12 months," the BoE said.

"As yet, there was no clear evidence of a sharp general slowing in activity," it added.

REUTERS

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